Computing company OVHcloud ready to move on to lower end of IPO price range

Texas News Today

The logo of French cloud computing company OVHcloud is seen in the data center building in Strasbourg, France on October 13, 2021. Reuters / Christian Hartmann / Files

13 October 2021

PARIS (Reuters) – French cloud computing service provider OVHCloud’s IPO will move forward at the low end of the range at a price of €18.5 per share, one of its operating banks said on Wednesday. Rice field. About 3.5 billion euros.

One of the bookrunners said the book wouldn’t close until Thursday afternoon, but the offer was already oversubscribed.

According to Synergy Research, on October 5, OVHcloud, a European-based cloud services provider next to Deutsche Telekom’s T-System, set a price range of €18.5-20 per share. As a result, the market value is 3.5 to 3.74 billion euros.

(Reporting by GV DeClercq; Edited by Kirsten Donovan)

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